Product Code: GVR-4-68040-378-4
Current Sensor Market Size & Trends
The global current sensor market size was valued at USD 2.18 billion in 2023 and is expected to grow at a CAGR of 10.1% from 2024 to 2030.The rise of electric vehicles (EVs) is a significant driver of the market. As the automotive industry shifts toward electrification, the demand for precise current measurement in battery management systems and motor control units has surged. Current sensors play a crucial role in monitoring the state of charge and health of EV batteries, ensuring optimal performance and longevity. Additionally, accurate current measurement helps in the efficient operation of electric motors, which are fundamental components of EVs. This growing adoption of EVs globally is expected to continue fueling the demand for advanced current sensors.
The expansion of renewable energy sources is also contributing to the growth of the market. Solar and wind power systems require efficient energy conversion and management, which depend heavily on accurate current measurement. Current sensors are essential in monitoring the output of solar inverters and wind turbines, optimizing their performance, and ensuring energy is harnessed efficiently. Furthermore, energy storage systems, which are critical for balancing supply and demand in renewable energy setups, also rely on current sensors for effective operation. As the world moves towards greener energy solutions, the demand for current sensors in this sector is expected to rise significantly.
Industrial automation is also driving the growth of the market. Modern manufacturing processes increasingly rely on automation and robotics, necessitating precise current measurements for motor control and machinery operation. Current sensors help in monitoring and controlling the electrical currents that power various industrial equipment, ensuring smooth and efficient functioning. This not only enhances productivity but also reduces the risk of equipment failure and downtime. With industries continuously seeking ways to improve operational efficiency, the integration of current sensors in automated systems is becoming more prevalent.
The advent of smart grid technology is another key driver for the market. Smart grids require real-time monitoring and management of electricity distribution to improve efficiency, reliability, and sustainability. Current sensors are integral to these systems, providing critical data on current flow, load conditions, and fault detection. This information enables utilities to optimize power distribution, reduce energy losses, and respond swiftly to any anomalies or disruptions. As investments in smart grid infrastructure increase globally, the need for reliable current sensors is expected to grow accordingly.
Advancements in sensor technology are further boosting the market for current sensors. Innovations such as miniaturization, enhanced accuracy, and digital integration are making current sensors more versatile and efficient. These improvements enable the deployment of current sensors in a wider range of applications, from consumer electronics to healthcare devices. Enhanced features such as real-time data processing and wireless connectivity are also expanding the scope of current sensor usage. As technological advancements continue to evolve, they are likely to open new opportunities and drive further growth in the market.
Global Current Sensor Market Report Segmentation
The report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global current sensor market based on the current sensing method, loop, technology, output, application, and region.
- Current Sensing Method Outlook (Revenue, USD Million, 2018 - 2030)
- Direct Current Sensing
- In-direct Current Sensing
- Loop Outlook (Revenue, USD Million, 2018 - 2030)
- Open Loop
- Closed Loop
- Technology Outlook (Revenue, USD Million, 2018 - 2030)
- Hall Effect
- Shunt
- Flux Gate
- Magneto-resistive
- Output Outlook (Revenue, USD Million, 2018 - 2030)
- Analog
- Digital
- Application Outlook (Revenue, USD Million, 2018 - 2030)
- Motor Drive
- Converter Inverter
- Battery Management
- UPS & SMPS
- Starter & Generators
- Grid Infrastructure
- Others
- Regional Outlook (Revenue, USD Million, 2018 - 2030)
- North America
U.S.
Canada
Mexico
UK
Germany
France
China
India
Japan
South Korea
Australia
Brazil
- Middle East & Africa (MEA)
UAE
Kingdom of Saudi Arabia (KSA)
South Africa
Table of Contents
Chapter 1. Methodology and Scope
- 1.1. Market Segmentation & Scope
- 1.2. Market Definitions
- 1.3. Research Methodology
- 1.3.1. Information Procurement
- 1.3.2. Information or Data Analysis
- 1.3.3. Market Formulation & Data Visualization
- 1.3.4. Data Validation & Publishing
- 1.4. Research Scope and Assumptions
- 1.4.1. List of Data Sources
Chapter 2. Executive Summary
- 2.1. Market Outlook
- 2.2. Segmental Outlook
- 2.3. Competitive Landscape Snapshot
Chapter 3. Market Variables, Trends, and Scope
- 3.1. Market Introduction/Lineage Outlook
- 3.2. Industry Value Chain Analysis
- 3.3. Market Dynamics
- 3.3.1. Market Driver Impact Analysis
- 3.3.2. Market Challenge Impact Analysis
- 3.3.3. Market Opportunity Impact Analysis
- 3.4. Current Sensor Market Analysis Tools
- 3.4.1. Porter's Analysis
- 3.4.1.1. Bargaining power of the suppliers
- 3.4.1.2. Bargaining power of the buyers
- 3.4.1.3. Threats of substitution
- 3.4.1.4. Threats from new entrants
- 3.4.1.5. Competitive rivalry
- 3.4.2. PESTEL Analysis
- 3.4.2.1. Political landscape
- 3.4.2.2. Economic and Social landscape
- 3.4.2.3. Technological landscape
- 3.4.2.4. Environmental landscape
- 3.4.2.5. Legal landscape
Chapter 4. Current Sensor Market: Current Sensing Method Estimates & Trend Analysis
- 4.1. Segment Dashboard
- 4.2. Current Sensor Market: Current Sensing Method Movement Analysis, 2023 & 2030 (USD Million)
- 4.3. Direct Current Sensing
- 4.3.1. Direct Current Sensing Revenue Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 4.4. In-direct Current Sensing
- 4.4.1. In-direct Current Sensing Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
Chapter 5. Current Sensor Market: Loop Estimates & Trend Analysis
- 5.1. Segment Dashboard
- 5.2. Current Sensor Market: Loop Movement Analysis, 2023 & 2030 (USD Million)
- 5.3. Open Loop
- 5.3.1. Open Loop Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 5.4. Closed Loop
- 5.4.1. Closed Loop Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
Chapter 6. Current Sensor Market: Technology Estimates & Trend Analysis
- 6.1. Segment Dashboard
- 6.2. Current Sensor Market: Technology Movement Analysis, 2023 & 2030 (USD Million)
- 6.3. Hall Effect
- 6.3.1. Hall Effect Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.4. Shunt
- 6.4.1. Shunt Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.5. Flux Gate
- 6.5.1. Flux Gate Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.6. Magneto-resistive
- 6.6.1. Magneto-resistive Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
Chapter 7. Current Sensor Market: Output Estimates & Trend Analysis
- 7.1. Segment Dashboard
- 7.2. Current Sensor Market: Output Movement Analysis, 2023 & 2030 (USD Million)
- 7.3. Analog
- 7.3.1. Analog Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.4. Digital
- 7.4.1. Digital Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
Chapter 8. Current Sensor Market: Application Estimates & Trend Analysis
- 8.1. Segment Dashboard
- 8.2. Current Sensor Market: Application Movement Analysis, 2023 & 2030 (USD Million)
- 8.3. Motor Drive
- 8.3.1. Motor Drive Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 8.4. Converter & Inverter
- 8.4.1. Converter & Inverter Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 8.5. Battery Management
- 8.5.1. Battery Management Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 8.6. UPS & SMPS
- 8.6.1. UPS & SMPS Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 8.7. Starter & Generators
- 8.7.1. Starter & Generators Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 8.8. Grid Infrastructure
- 8.8.1. Grid Infrastructure Market Revenue Estimates and Forecasts, 2018 - 30 (USD Million)
- 8.9. Others
- 8.9.1. Others Market Revenue Estimates and Forecasts, 2018 - 30 (USD Million)
Chapter 9. Current Sensor Market: Regional Estimates & Trend Analysis
- 9.1. Current Sensor Market Share, By Region, 2023 & 2030, USD Million
- 9.2. North America
- 9.2.1. North America Current Sensor Market estimates & forecasts, 2018 - 2030 (USD Million)
- 9.2.2. U.S.
- 9.2.2.1. U.S. Current Sensor Market estimates & forecasts, 2018 - 2030 (USD Million)
- 9.2.3. Canada
- 9.2.3.1. Canada Current Sensor Market estimates & forecasts, 2018 - 2030 (USD Million)
- 9.2.4. Mexico
- 9.2.4.1. Mexico Current Sensor Market estimates & forecasts, 2018 - 2030 (USD Million)
- 9.3. Europe
- 9.3.1. Europe Current Sensor Market estimates & forecasts, 2018 - 2030 (USD Million)
- 9.3.2. U.K.
- 9.3.2.1. U.K. Current Sensor Market estimates & forecasts, 2018 - 2030 (USD Million)
- 9.3.3. Germany
- 9.3.3.1. Germany Current Sensor Market estimates & forecasts, 2018 - 2030 (USD Million)
- 9.3.4. France
- 9.3.4.1. France Current Sensor Market estimates & forecasts, 2018 - 2030 (USD Million)
- 9.4. Asia Pacific
- 9.4.1. Asia Pacific Current Sensor Market estimates & forecasts, 2018 - 2030 (USD Million)
- 9.4.2. China
- 9.4.2.1. China Current Sensor Market estimates & forecasts, 2018 - 2030 (USD Million)
- 9.4.3. India
- 9.4.3.1. India Current Sensor Market estimates & forecasts, 2018 - 2030 (USD Million)
- 9.4.4. Japan
- 9.4.4.1. Japan Current Sensor Market estimates & forecasts, 2018 - 2030 (USD Million)
- 9.4.5. South Korea
- 9.4.5.1. South Korea Current Sensor Market estimates & forecasts, 2018 - 2030 (USD Million)
- 9.4.6. Australia
- 9.4.6.1. Australia Current Sensor Market estimates & forecasts, 2018 - 2030 (USD Million)
- 9.5. Latin America
- 9.5.1. Latin America Current Sensor Market estimates & forecasts, 2018 - 2030 (USD Million)
- 9.5.2. Brazil
- 9.5.2.1. Brazil Current Sensor Market estimates & forecasts, 2018 - 2030 (USD Million)
- 9.6. Middle East & Africa
- 9.6.1. Middle East & Africa Current Sensor Market estimates & forecasts, 2018 - 2030 (USD Million)
- 9.6.2. The Kingdom of Saudi Arabia (KSA)
- 9.6.2.1. The Kingdom of Saudi Arabia (KSA) Current Sensor Market estimates & forecasts, 2018 - 2030 (USD Million)
- 9.6.3. UAE
- 9.6.3.1. UAE Current Sensor Market estimates & forecasts, 2018 - 2030 (USD Million)
- 9.6.4. South Arica
- 9.6.4.1. South Africa Current Sensor Market estimates & forecasts, 2018 - 2030 (USD Million)
Chapter 10. Competitive Landscape
- 10.1. Recent Developments & Impact Analysis by Key Market Participants
- 10.2. Company Categorization
- 10.3. Company Market Positioning
- 10.4. Company Market Share Analysis
- 10.5. Company Heat Map Analysis
- 10.6. Strategy Mapping
- 10.6.1. Expansion
- 10.6.2. Mergers & Acquisition
- 10.6.3. Partnerships & Collaborations
- 10.6.4. New Product Launches
- 10.6.5. Research And Development
- 10.7. Company Profiles
- 10.7.1. Honeywell International Inc.
- 10.7.1.1. Participant's Overview
- 10.7.1.2. Financial Performance
- 10.7.1.3. Product Benchmarking
- 10.7.1.4. Recent Developments
- 10.7.2. Allegro MicroSystems, Inc.
- 10.7.2.1. Participant's Overview
- 10.7.2.2. Financial Performance
- 10.7.2.3. Product Benchmarking
- 10.7.2.4. Recent Developments
- 10.7.3. TDK Corporation.
- 10.7.3.1. Participant's Overview
- 10.7.3.2. Financial Performance
- 10.7.3.3. Product Benchmarking
- 10.7.3.4. Recent Developments
- 10.7.4. STMicroelectronics
- 10.7.4.1. Participant's Overview
- 10.7.4.2. Financial Performance
- 10.7.4.3. Product Benchmarking
- 10.7.4.4. Recent Developments
- 10.7.5. TAMURA Corporation
- 10.7.5.1. Participant's Overview
- 10.7.5.2. Financial Performance
- 10.7.5.3. Product Benchmarking
- 10.7.5.4. Recent Developments
- 10.7.6. Infineon Technologies AG
- 10.7.6.1. Participant's Overview
- 10.7.6.2. Financial Performance
- 10.7.6.3. Product Benchmarking
- 10.7.6.4. Recent Developments
- 10.7.7. LEM International SA
- 10.7.7.1. Participant's Overview
- 10.7.7.2. Financial Performance
- 10.7.7.3. Product Benchmarking
- 10.7.7.4. Recent Developments
- 10.7.8. ROHM CO. LTD
- 10.7.8.1. Participant's Overview
- 10.7.8.2. Financial Performance
- 10.7.8.3. Product Benchmarking
- 10.7.8.4. Recent Developments
- 10.7.9. Melexis
- 10.7.9.1. Participant's Overview
- 10.7.9.2. Financial Performance
- 10.7.9.3. Product Benchmarking
- 10.7.9.4. Recent Developments
- 10.7.10. Omron Corporation.
- 10.7.10.1. Participant's Overview
- 10.7.10.2. Financial Performance
- 10.7.10.3. Product Benchmarking
- 10.7.10.4. Recent Developments